A Look Inside the Cayman Gold Vault: Strategic Wealth Preservation

“If your gold is outside the US, it gives you another degree of insulation should the United States decide that you shouldn’t own it—it’s not a reportable asset.” - Doug Casey, May 2017

As readers of these pages well know, owning precious metals offshore remains one the safest and most prudent means of preserving one’s wealth today. At the forefront of offshore storage in the Western Hemisphere is Strategic Wealth Preservation (SWP), a fully integrated precious metals dealer and vaulting facility headquartered in the Cayman Islands.

International Man recently spoke with SWP’s General Manager, Mark Yaxley, to understand exactly how his firm serves investors and helps protect their wealth:

International Man: Good morning, Mark. Thanks for taking the time to chat with us today.

Mark Yaxley: My pleasure.

IM: In a nutshell, how would you describe Strategic Wealth Preservation (SWP)?

Mark Yaxley: SWP is a fully-integrated precious metals dealer and secure storage facility. Investors can deposit their existing precious metals with us or buy new metals from our extensive stock of bars and coins and store them in our Cayman Islands vault.

IM: There are plenty of jurisdictions out there. Why did SWP choose the Cayman Islands?

Mark: Cayman is hands-down the most advanced country in the western hemisphere with regard to wealth preservation. It enjoys both political and economic stability and is just a one-hour flight from North America. It’s one of only a handful of countries that has no direct taxation of any kind. There is no import, export or any other tax on the purchase, sale or storage of precious metals here.

IM: Banks today face increasingly onerous reporting requirements imposed on them by various international entities. Do these same reporting requirements apply to SWP?

Mark: No, SWP is classified as an Active Non-Financial Foreign Entity. As such, SWP has no wealth reporting requirements to any local or foreign tax authority or government. This is particularly important to people trying to retain their privacy, which can be challenging these days.

IM: Do you provide the same security as banking institutions?

Mark: Yes, security is essential to our business. We have a state-of-the–art Class III UL-rated vault, located in a purpose-built building that also houses one of the largest security firms in the Caribbean. SWP is fully insured by Marsh, and our policy is underwritten by Lloyds of London. Most importantly, clients’ holdings are 100% allocated, segregated and insured within the vault. The precious metals they own remain their personal property at all times.

IM: Do you have safe deposit boxes available for rent?

Mark: Yes, we offer safe deposit box rentals similarly to a bank, except our boxes are insured; those in a bank are not. We also provide precious metal IRAs (Individual Retirement Accounts) for American citizens, and handle storage of cryptocurrency wallets and keys.

IM: That’s quite comprehensive. If clients wish to diversify their holdings outside of Cayman, is this easy to do?

Mark: Yes, much easier than most people think. We regularly facilitate international transactions for our clients. We also provide metal acquisition and storage services in Toronto, New York, Miami, London, Frankfurt, Zurich, Liechtenstein, Hong Kong, Singapore and New Zealand. All international locations are accessible under one single account with SWP.

IM: Is it possible for a client to visit the Cayman facility and check what he has on deposit? You know, because we all need another excuse to spend more time in the Caribbean…

Mark: Of course. In fact, we encourage our clients to visit us for a personal audit. And withdrawals are available upon demand, provided 24-hours’ notice. We go to great lengths to service clients’ needs. Many investors are only on Cayman for a few days, and on occasion, we’ve opened up on a Saturday to handle a deposit from a client who’s just arrived, so that he didn’t need to store his gold in his hotel room over the weekend.

IM: Are there minimum deposits or purchase amounts?

Mark: No, we believe that everyone should own precious metals as part of their portfolio, therefore we didn’t want to institute any minimums that would preclude anyone from owning them. We have some clients as young as eighteen years old, whom I envy. I wish I had started buying metals when I was that young!

IM: How do you see the future of precious metals trading and storage for SWP?

Mark: Well, today, wealth preservation is becoming increasingly problematic. Our goal is to make it easier. We’ve been thorough in creating a state-of-the-art facility, located in the most advantageous jurisdiction, so, going forward, our most important task is to focus on developing long-term relationships with our clients. The key to that is to get to know their individual needs and to consistently provide them with a world class experience.

IM: Thanks for taking the time to talk today, Mark. I trust our readers found plenty of value in your insights. A few might even be booking tickets as we speak…

Mark: My pleasure. It can be difficult to know where to begin with this kind of stuff. I hope this information provides your readers with a helpful leg up.

You can also call 1 (345) 640-2111 or email info@swpcayman.com. Just be sure to tell them you are an International Man reader. Their client services team will be more than happy to answer any questions you may have.